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These days, finding an affordable place to live in the Shanghai City area can be challenging. Home prices in Shanghai City are now at a median cost of $78,815, lower than the Illinois average of $242,002.
The average cost of rent is $597/mo in Shanghai City, primarily driven by the current value of real estate in the Shanghai City area. While nearly 47.88% of residents own their homes outright in Shanghai City, 4.88% rent.
Housing affordability isn’t just about home prices, though. The average household income in Shanghai City is $5,095 per month. Households that rent pay about 11.72% of their income on rent here. Shanghai City's most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
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